## Venezuela Meltdown

Lies, damned lies, and statistics.
Rob Lister
Posts: 20106
Joined: Sun Jul 18, 2004 7:15 pm
Title: Incipient toppler
Location: Swimming in Lake Ed

### Venezuela Meltdown

Venezuela to issue larger bill as currency continues to melt

BOGOTA, Colombia (AP) -- Venezuela said it will issue higher-denominated bills as triple-digit inflation and a currency meltdown leave the country's largest note worth just around 2 U.S. cents on the black market.

The central bank said in a statement Saturday that six new bills ranging from 500 to 20,000 Bolivars will begin circulating on Dec. 15. Currently the largest-denominated bill is 100 bolivars, while a 2-liter soft drink bottle can cost 25 times that amount.
http://hosted.ap.org/dynamic/stories/L/ ... 4-10-06-58

So, what are they using for currency? The dollar? The Colombian peso? The Brazilian real? Ponies and goats?

Skeeve
Posts: 10636
Joined: Wed Jun 09, 2004 7:35 am

### Re: Venezuela Meltdown

From last April: BUSINESS Venezuela’s Currency Devaluation Is Hitting Company Earnings...
...

The cuts come at a time when the cost of heating oil has reached $3.93 a gallon, up 57 cents from last year. This is a 22-year high, according to the Energy Information Administration. The escalating price of heat is especially threatening to people living on a fixed income, including the retired. Citgo expects to help more than 400,000 Americans this year with a 100-gallon donation of heating oil and said that in addition to providing assistance to private citizens, Citgo would also provide assistance to 250 homeless shelters. They gave a lot to others too, not just USA. Cuba for example and I'm sure others as well. Now they are really up shit creek. A fool thinks himself to be wise, but a wise man knows himself to be a fool. William Shakespeare WildCat Posts: 14228 Joined: Tue Jun 15, 2004 2:53 am Location: The 33rd Ward, Chicago ### Re: Venezuela Meltdown They're feeling the Bern! Do you have questions about God? you sniveling little right-wing nutter - jj Rob Lister Posts: 20106 Joined: Sun Jul 18, 2004 7:15 pm Title: Incipient toppler Location: Swimming in Lake Ed ### Re: Venezuela Meltdown bump for ed Anaxagoras Posts: 22433 Joined: Wed Mar 19, 2008 5:45 am Location: Yokohama/Tokyo, Japan ### Re: Venezuela Meltdown Change of plan: Inflation-hit Venezuela to pull largest bill from circulation Venezuela, mired in an economic crisis and facing the world's highest inflation, will pull its largest bill, worth two U.S. cents on the black market, from circulation this week ahead of introducing new higher-value notes, President Nicolas Maduro said on Sunday. The surprise move, announced by Maduro during an hours-long speech, is likely to worsen a cash crunch in Venezuela. Maduro said the 100-bolivar bill will be taken out of circulation on Wednesday and Venezuelans will have 10 days after that to exchange those notes at the central bank. Critics slammed the move, which Maduro said was needed to combat contraband of the bills at the volatile Colombia-Venezuela border, as economically nonsensical, adding there would be no way to swap all the 100-bolivar bills in circulation in the time the president has allotted. The beatings will continue until morale improves. A fool thinks himself to be wise, but a wise man knows himself to be a fool. William Shakespeare Doctor X Posts: 68219 Joined: Fri Jun 04, 2004 8:09 pm Title: Collective Messiah Location: Your Mom ### Re: Venezuela Meltdown Why not just make "11" one louder? --J.D. Mob of the Mean: Free beanie, cattle-prod and Charley Fan Club! "Doctor X is just treating you the way he treats everyone--as subhuman crap too dumb to breathe in after you breathe out."--Don DocX: FTW.--sparks "Doctor X wins again."--Pyrrho "Never sorry to make a racist Fucktard cry."--His Humble MagNIfIcence "It was the criticisms of Doc X, actually, that let me see more clearly how far the hypocrisy had gone."--clarsct "I'd leave it up to Doctor X who has been a benevolent tyrant so far."--Grammatron "Indeed you are a river to your people. Shit. That's going to end up in your sig."--Pyrrho "Try a twelve step program and accept Doctor X as your High Power."--asthmatic camel "just like Doc X said." --gnome WS CHAMPIONS X4!!!! NBA CHAMPIONS!! Stanley Cup! SB CHAMPIONS X5!!!!! WildCat Posts: 14228 Joined: Tue Jun 15, 2004 2:53 am Location: The 33rd Ward, Chicago ### Re: Venezuela Meltdown Doctor X wrote:Why not just make "11" one louder? --J.D. These go to 11. Do you have questions about God? you sniveling little right-wing nutter - jj WildCat Posts: 14228 Joined: Tue Jun 15, 2004 2:53 am Location: The 33rd Ward, Chicago ### Re: Venezuela Meltdown Meanwhile Venezuelans continue to feel the Bern: Venezuela's socialist government has seized nearly 4 million toys from a private company and says it intends to hand them out as Christmas gifts to poor children this holiday season. The country's fair pricing authority seized the toys from three warehouses run by Kreisel, Venezuela's largest toy distributor, on Friday. Two company executives were detained on suspicion of promoting price speculation. Agency director William Contreras alleged that Kreisel underreported its inventory in order to sell some toys at higher prices. Kreisel has not commented officially beyond responding to Twitter messages of support. Contreras said the seizure would teach companies "that you can't play with the rights of Venezuelans." Authorities said local supply committees will be in charge of distributing the toys "fairly" to children. Venezuela has been wracked by a deep economic crisis accompanied by shortages of goods ranging from food staples to medicine. In recent days President Nicolas Maduro ordered stores to lower their prices between 30 and 50 percent. It's for the children naturally. Do you have questions about God? you sniveling little right-wing nutter - jj ed Posts: 33625 Joined: Tue Jun 08, 2004 11:52 pm Title: Rhino of the Florida swamp ### Re: Venezuela Meltdown "rights" Wenn ich Kultur höre, entsichere ich meinen Browning! Anaxagoras Posts: 22433 Joined: Wed Mar 19, 2008 5:45 am Location: Yokohama/Tokyo, Japan ### Re: Venezuela Meltdown Wow. Talk about living up to your negative stereotype. A fool thinks himself to be wise, but a wise man knows himself to be a fool. William Shakespeare Rob Lister Posts: 20106 Joined: Sun Jul 18, 2004 7:15 pm Title: Incipient toppler Location: Swimming in Lake Ed ### Re: Venezuela Meltdown They could be great. How did South Korea do it? How did Japan do it. We need to invade, rape and pillage. Witness Posts: 17731 Joined: Thu Sep 19, 2013 5:50 pm ### Re: Venezuela Meltdown The Week wrote:How one guy at an Alabama Home Depot controls Venezuela's currency […] His name is Gustavo Díaz, and his website, DolarToday, has become a handy financial tool for Venezuelans trying to navigate the underground economy — so handy, in fact, that it affects the price of just about everything in Venezuela. In Venezuela, the government officially sets the currency rate and it's illegal to publish exchange rates for black-market dollars. But Díaz's website does just that, basing the rate on actual street prices that Venezuelan consumers are paying for food, medicine, cars and everything else. It's all about information. "We founded this company DolarToday in 2010," Díaz explains, "as a form of protest against the dictatorship because the dictatorship was intimidating and controlling the media on all the information." So let's say you have a bunch of bolivars to spend. The official government exchange rate is fixed at 10 bolivars to the dollar. But according to DolarToday, the real street value of the bolivar in Caracas is much lower. It's now well over 4,000 bolivars to the dollar. That information shapes millions of dollars of daily currency transactions, and guides Venezuelans who buy and sell black market dollars to the tune of$15 million dollars every day.
[…]
"The interest in the website is to provide information to the people that they need, to keep fighting for their liberties and democracy and freedom of speech against a regime that harasses people and kills people. That's our interest, to pursue the liberty of Venezuela."
https://theweek.com/articles/667073/how ... s-currency

Witness
Posts: 17731
Joined: Thu Sep 19, 2013 5:50 pm

### Re: Venezuela Meltdown

Couldn't resist…

Spoiler:

Skeeve
Posts: 10636
Joined: Wed Jun 09, 2004 7:35 am

### Re: Venezuela Meltdown

Witness wrote:Couldn't resist…

Spoiler:
I am reminded of when Al Sharpton became active back in the 1980's... and a portly fellow he was.

There's just something about these "advocates for the hungry masses," looking like they don't miss many meals...
Then Skank Of America could start in...

Pyrrho
Posts: 26172
Joined: Sat Jun 05, 2004 2:17 am
Title: Man in Black
Location: Division 6

### Re: Venezuela Meltdown

If your meals consist primarily of cheap carbohydrates and not much else, that is what happens.
The flash of light you saw in the sky was not a UFO. Swamp gas from a weather balloon was trapped in a thermal pocket and reflected the light from Venus.

gnome
Posts: 22374
Joined: Tue Jun 29, 2004 12:40 am
Location: New Port Richey, FL

### Re: Venezuela Meltdown

An interesting perspective from an economist native to Venezuela:

WaPo: In Venezuela, we couldn’t stop Chávez. Don’t make the same mistakes we did.
"If fighting is sure to result in victory, then you must fight! Sun Tzu said that, and I'd say he knows a little bit more about fighting than you do, pal, because he invented it, and then he perfected it so that no living man could best him in the ring of honor. Then, he used his fight money to buy two of every animal on earth, and then he herded them onto a boat, and then he beat the crap out of every single one. And from that day forward any time a bunch of animals are together in one place it's called a zoo! (Beat) Unless it's a farm!"
--Soldier, TF2

Doctor X
Posts: 68219
Joined: Fri Jun 04, 2004 8:09 pm
Title: Collective Messiah

### Re: Venezuela Meltdown

I recall a number of very liberal friends who loved Chavez because he "stood up to Bush!"

I am still laughing.

--J.D.
Mob of the Mean: Free beanie, cattle-prod and Charley Fan Club!
"Doctor X is just treating you the way he treats everyone--as subhuman crap too dumb to breathe in after you breathe out."--Don
DocX: FTW.--sparks
"Doctor X wins again."--Pyrrho
"Never sorry to make a racist Fucktard cry."--His Humble MagNIfIcence
"It was the criticisms of Doc X, actually, that let me see more clearly how far the hypocrisy had gone."--clarsct
"I'd leave it up to Doctor X who has been a benevolent tyrant so far."--Grammatron
"Indeed you are a river to your people.
Shit. That's going to end up in your sig."--Pyrrho
"Try a twelve step program and accept Doctor X as your High Power."--asthmatic camel
"just like Doc X said." --gnome

WS CHAMPIONS X4!!!! NBA CHAMPIONS!! Stanley Cup! SB CHAMPIONS X5!!!!!

gnome
Posts: 22374
Joined: Tue Jun 29, 2004 12:40 am
Location: New Port Richey, FL

### Re: Venezuela Meltdown

The shoe is certainly on the other foot with that kind of thinking here in the US...
"If fighting is sure to result in victory, then you must fight! Sun Tzu said that, and I'd say he knows a little bit more about fighting than you do, pal, because he invented it, and then he perfected it so that no living man could best him in the ring of honor. Then, he used his fight money to buy two of every animal on earth, and then he herded them onto a boat, and then he beat the crap out of every single one. And from that day forward any time a bunch of animals are together in one place it's called a zoo! (Beat) Unless it's a farm!"
--Soldier, TF2

Doctor X
Posts: 68219
Joined: Fri Jun 04, 2004 8:09 pm
Title: Collective Messiah

### Re: Venezuela Meltdown

The irony is staggering. One--for whom I [Stole.--Ed.] the term "PsychoCon" to refer to the religious Republican right given that "NeoCon" really is incorrect--even tried to defend his shutting down of the press. "The press," you see, was printing "lies" about Wonderful Chavez.

Great example of the cement-headed "thinking" consistently exhibited by the extremists on the right and left. Chavez was a Cunt, as was Castro . . . but they were "leftist" so . . . that is all good. Meanwhile, Diem, Marcos, for a time Hussein, Pahlavi, Pinochet . . . they were NOT "commies" so, well, we can work with them.

Sort of like voting for Trump because he is not Clinton or Clinton because she is not Trump.

Wait.

--J.D.
Mob of the Mean: Free beanie, cattle-prod and Charley Fan Club!
"Doctor X is just treating you the way he treats everyone--as subhuman crap too dumb to breathe in after you breathe out."--Don
DocX: FTW.--sparks
"Doctor X wins again."--Pyrrho
"Never sorry to make a racist Fucktard cry."--His Humble MagNIfIcence
"It was the criticisms of Doc X, actually, that let me see more clearly how far the hypocrisy had gone."--clarsct
"I'd leave it up to Doctor X who has been a benevolent tyrant so far."--Grammatron
"Indeed you are a river to your people.
Shit. That's going to end up in your sig."--Pyrrho
"Try a twelve step program and accept Doctor X as your High Power."--asthmatic camel
"just like Doc X said." --gnome

WS CHAMPIONS X4!!!! NBA CHAMPIONS!! Stanley Cup! SB CHAMPIONS X5!!!!!